1 November 2017
One of Australia’s biggest health insurers, NIB, committed to completing their divestment from fossil fuels at their annual general meeting in Sydney today, further isolating their major competitor Medibank, whose AGM is coming up on 13 November.
In March 2016, NIB shifted its international share portfolio to an investment trust that filters out thermal coal and tar sands companies, as well as companies with significant coal, oil and gas reserves. Chairman Steve Crane explained in today’s AGM that NIB took the view that it was “not appropriate to be invested in those [fossil fuel] companies”.
As yet they have not divested their Australian share portfolio of fossil fuels, however, CEO Mark Fitzgibbon, confirmed that it was their “intention” to do so. See the video for the key quotation.
NIB now needs to set a timeline for this divestment, to ensure that their “intention” becomes a reality.
Take Action: contact your health insurer using the form below and ask them to divest from fossil fuels.